Hamilton's next objective was to create a Bank of the United States, modeled after the Bank of England. A national bank would collect taxes, hold government funds, and make loans to the government and borrowers. One criticism directed against the bank was "unrepublican"--it would encourage speculation and corruption. The bank was also opposed on constitutional grounds. Adopting a position known as "strict constructionism," Thomas Jefferson and James Madison charged that a national bank was unconstitutional since the Constitution did not specifically give Congress the power to create a bank.
Hamilton responded to the charge that a bank was unconstitutional by formulating the doctrine of "implied powers." He argued that Congress had the power to create a bank because the Constitution granted the federal government authority to do anything "necessary and proper" to carry out its constitutional functions (in this case its fiscal duties).
In 1791, Congress passed a bill creating a national bank for a term of 20 years, leaving the question of the bank's constitutionality up to President Washington. The president reluctantly decided to sign the measure out of a conviction that a bank was necessary for the nation's financial well-being.
<span>America was the one to provide much of the food for the Western European Countries. World War 1 REALLY didn't contribute to the American Great Depression. That had more to do with the Stock market crashing and poor economic decisions made by the United States Federal Government. However WWI did effect American Farmers who were used to producing food for the war effort. We also felt </span>a strong need for isolationism, due to the fact so many lifes were lost. (U.S. deaths totaled 116,516)
Costs of products also decreased because of railroads Population increased because food was available in a large variety at a low cost. The entire Industrial Revolution was altered because of these accomplishments. Factories flourished because the demand for railroad parts and railroad tracks was very high.
The US reorganized it's economy to produce food, arms, and other goods to support the war effort. The Food Administration helped boost food production to feed both American troops and Allied troops fighting in the war. The Food Administration also encouraged citizens to plant their own "Victory Gardens" to raise their own food. People went without wheat on Mondays, and without meat on Tuesdays, saving the food for the men fighting in the trenches. The US was short on military supplies, at the time they entered WW1. The War Industries Board told factories what to produce and at what price. The War Labor Board helped settle workers disputes in order to prevent strikes and labor unrest, which would slow down production of needed supplies.
